Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making waves in the financial markets. Today, we’re highlighting some key players who have made headlines after the bell.
Micron Technology, a leading semiconductor manufacturer, saw its stock soar 13% after issuing strong guidance for the current quarter. The company is projecting fiscal first-quarter adjusted earnings of around $1.74 per share and revenue of approximately $8.70 billion, surpassing analysts’ expectations. This positive news also had a ripple effect on peers Applied Materials and Lam Research, which both saw their stocks rise in sympathy.
On the flip side, H.B. Fuller, a renowned adhesives company, experienced a nearly 10% decline in its stock price. The company fell short of analyst expectations with its fiscal third-quarter adjusted earnings and revenue numbers. Another company that didn’t fare well after hours was Concentrix, a customer experience solutions provider, whose shares plunged 14% despite beating revenue estimates.
Real estate investment trust Armada Hoffler Properties also faced a setback, with its stock dipping 5% following the announcement of a public offering of seven million shares of its common stock. The proceeds from this offering will be used to pay back a series of loans, impacting investors’ confidence in the company.
Lastly, Worthington Steel, a metal processing company, saw its shares drop 4% after reporting a decline in fiscal first-quarter net sales and adjusted earnings compared to the previous year.
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